Pearson invests $89.5 million in Barnes & Noble’s NOOK Media business

From BGR: The Three Biggest Letters In TechDecember 28, 2012 - 11:00pm

Barnes & Nobles (BKS) announced on Friday that Pearson (PSO) will invest $89.5 million in cash in its NOOK Media business, giving the company a 5% equity stake. Earlier this year, Microsoft (MSFT) dropped $300 million for a 17.6% stake in NOOK Media. Pearson’s investment now leaves Barnes & Noble with 78.2% of the company while Microsoft holds a 16.8% stake. “Pearson is a forward thinking company similarly focused on reading and learning, with powerful assets and a terrific management team” Barnes & Noble CEO William Lynch said in a press release. Pearson CEO Will Ethridge had a little more to share on the new partnership saying the two companies will “work closely together in order to create a more seamless and effective experience for students.” Barnes